Y Intercept Hong Kong Ltd Takes $778,000 Position in Core & Main, Inc. (NYSE:CNM)

Y Intercept Hong Kong Ltd acquired a new stake in Core & Main, Inc. (NYSE:CNM) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 15,280 shares of the company’s stock, valued at approximately $778,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CNM. Ashton Thomas Securities LLC acquired a new position in shares of Core & Main in the 3rd quarter valued at about $26,000. Avior Wealth Management LLC lifted its stake in shares of Core & Main by 51.3% in the 4th quarter. Avior Wealth Management LLC now owns 799 shares of the company’s stock valued at $41,000 after purchasing an additional 271 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of Core & Main in the 3rd quarter valued at about $49,000. UMB Bank n.a. lifted its stake in shares of Core & Main by 246.0% in the 4th quarter. UMB Bank n.a. now owns 962 shares of the company’s stock valued at $49,000 after purchasing an additional 684 shares during the period. Finally, Blue Trust Inc. raised its stake in Core & Main by 187.4% during the 4th quarter. Blue Trust Inc. now owns 1,273 shares of the company’s stock worth $65,000 after buying an additional 830 shares during the period. 94.19% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Core & Main news, President Bradford A. Cowles sold 50,000 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $55.07, for a total transaction of $2,753,500.00. Following the completion of the transaction, the president now directly owns 18,423 shares of the company’s stock, valued at approximately $1,014,554.61. This represents a 73.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Mark G. Whittenburg sold 1,974 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $55.29, for a total value of $109,142.46. Following the transaction, the general counsel now directly owns 7,667 shares of the company’s stock, valued at approximately $423,908.43. This trade represents a 20.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 452,426 shares of company stock valued at $24,285,825 over the last three months. Corporate insiders own 3.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on CNM shares. Truist Financial upped their price target on Core & Main from $38.00 to $56.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. Barclays upped their price target on Core & Main from $57.00 to $65.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Robert W. Baird upped their price target on Core & Main from $60.00 to $66.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $62.00 price target (up from $53.00) on shares of Core & Main in a research note on Wednesday, December 4th. Finally, Citigroup upped their price target on Core & Main from $43.00 to $56.00 and gave the stock a “neutral” rating in a research note on Monday, January 6th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $57.60.

Core & Main Stock Performance

Shares of CNM opened at $51.02 on Friday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.28 and a current ratio of 2.14. The stock has a 50 day moving average price of $53.37 and a two-hundred day moving average price of $48.77. The firm has a market capitalization of $10.14 billion, a P/E ratio of 23.95, a P/E/G ratio of 2.61 and a beta of 1.03. Core & Main, Inc. has a 52 week low of $37.22 and a 52 week high of $62.15.

Core & Main (NYSE:CNM) last released its earnings results on Tuesday, December 3rd. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.04. The company had revenue of $2.04 billion during the quarter, compared to analyst estimates of $1.99 billion. Core & Main had a return on equity of 24.71% and a net margin of 5.71%. Core & Main’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.65 earnings per share. Equities analysts forecast that Core & Main, Inc. will post 2.16 earnings per share for the current fiscal year.

Core & Main Company Profile

Core & Main, Inc is a specialty distributor focused on water, wastewater, storm drainage and fire protection products, and related services. The company provides infrastructure solutions to municipalities, private water companies and professional contractors across municipal, non-residential, and residential end markets, nationwide.